This current retracement lines up well with the fibs (just under .705), successfully tested 4H(red) and 1H(gray) bullish orderblocks for support, and seems like it wants to make some higher lows.
All somewhat good indications of a possible move upwards.
Next step would be breaking the yellow pivot line and establishing support on top of it beofre attempting to break further resistances.
Upon successful bullish momentum I'd expect the final target for this short term(few days/1-2 weeks) movement to reach that tiny gap that it has left unfilled around my TARGET area.
Of course I may be completely wrong which should be obvious if it breaks that previous low and keeps attacking the bullish orderblocks.
If you're looking to enter right now just keep proper risk management in mind and all will be well. A more conservative entry would be when it tests yellow level as support AFTER breaking it.
All somewhat good indications of a possible move upwards.
Next step would be breaking the yellow pivot line and establishing support on top of it beofre attempting to break further resistances.
Upon successful bullish momentum I'd expect the final target for this short term(few days/1-2 weeks) movement to reach that tiny gap that it has left unfilled around my TARGET area.
Of course I may be completely wrong which should be obvious if it breaks that previous low and keeps attacking the bullish orderblocks.
If you're looking to enter right now just keep proper risk management in mind and all will be well. A more conservative entry would be when it tests yellow level as support AFTER breaking it.
Trade closed: stop reached:
REKT by Bitcoin :(